Companies are required to complete registration of charges within 30 days of creating a security interest on its assets. IndiaFilings offers an easy process for creating charges from Rs.4899/-
From Rs.4899 /- all inclusive fees
EMI: Rs.437 for 12 months*
Companies Act, 2013 defines "charge" as an interest or lien created on the property or assets of a company or any of its undertakings or both as security and includes a mortgage. Hence, charge is a type of security created on some property of the company to secure company lent. Charge can be fixed if it's attached to a specific item of property (for example land); a floating charge is created when charge is created over changing assets (for example cash, receivables). It is the duty of every company to register with the Registrar of Companies specific charges created by the company on its assets. The purpose of registration of charge is to provide public notice to those who contemplate giving credit to the company on how far the property of the company is encumbered.
As per Companies Act, companies are required to file particulars of a charge within 30 days of the creation thereof, otherwise the charge is void against the liquidators and the creditors of the company.
IndiaFilings is the leading business services platform in India, offering a variety of services like charge creation, company registration, trademark filing, GST registration, income tax filing and more. IndiaFilings can help you register charges with the Registrar of Companies. The average time taken to file for registration of charges is about 5 - 11 working days, subject to government processing time and client document submission. Get a free consultation on procedure for charge creation by scheduling an appointment with an IndiaFilings Advisor.
Companies Act, 2013 makes it mandatory for all companies having created any charge to keep a register of charges in the prescribed format at the registered office of the company.
KNOW MOREWhen a charge is created and filed with the Registrar, the Registrar of Companies would issue a certificate of registration of charge to the person in whose favor the charge is created.
As per Companies Act, 2013, non-registration of a charge makes the company and officers of the company liable for fines and punishment.
In case the terms, conditions, extend or operation of a charge created on a company and filed with the Registrar is changed, then the company must file for modification of the charge.
When the charge created on a property or asset of a company is satisfied in fully, the company must give intimation to the Registrar on satisfaction of the charge.
Identity and address proof will be required for all directors and shareholders of the company to be incorporated. In case of Indian nationals, PAN is mandatory. For foreign nationals, apostilled or notarised copy of passport must be submitted mandatorily. All documents submitted must be valid. Residence proof documents like bank statement or electricity bill must be less than 2 months old.
All companies must have a registered office in India. To prove access to the registered office, a recent copy of the electricity bill or property tax receipt or water bill must be submitted. Along with the utility bill, rental agreement or sale deed and a letter from the landlord with his/her consent to use the office as a registered office of a company must be submitted.
Filing for registration of charges. Inclusive of GST.
From Rs.4899 /- all inclusive fees
EMI: Rs.437 for 12 months*
Filing for modification of existing charge. Inclusive of GST.
From Rs.7899 /- all inclusive fees
EMI: Rs.705 for 12 months*
Filing for satisfaction of charge. Inclusive of GST.
From Rs.12899 /- all inclusive fees
EMI: Rs.1152 for 12 months*
IndiaFilings.com can help you file for registration, modification or satisfaction of charges.
A Business Expert will review the loan documentation and the Articles of Association to understand the background of the Company prior to beginning the process. The review would take 1 - 3 working days.
Once you obtain an understanding of the procedures involved in charges management, our Experts will draft the necessary Resolutions for the procedure.
Once the Board Resolutions are passed, our Experts will prepare and file the necessary documents with the Ministry of Corporate Affairs to complete the charge registration or modification or satisfaction.
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